A slide projector purchased by Cobin Industries is expected to last 7 years. The purchase price was $13,780. The trade-in value is $2,300. Using the sum-of-the-years' digits depreciation method, calculate the accumulated depreciation at the end of year 3.
A. $4,921.43
B. $7,380.00
C. $8,858.57
D. $6,400.00
Answer: B
You might also like to view...
Which of the following questions is NOT useful for evaluating a company's values statement?
A. Does it set standards of excellence and reflect high ideals? B. Does it express the company's distinctiveness, its view of the world? C. Is it tough, serving as the foundation on which difficult company decisions can be made? D. Will it be unchanging, as valid 100 years from now as it is today? E. Would you wish the organization to continue to hold these values, even if at some point they become a competitive disadvantage?
The balance of the income summary account of a corporation is transferred to the capital stock account
a. True b. False Indicate whether the statement is true or false
Consumer-oriented promotion gives customers a reason to purchase the product. This process represents:
A) push promotion. B) pull promotion. C) horizontal promotion. D) vertical promotion.
Tongass had pretax accounting income of $1,400 during 2014 . Tongass used accelerated depreciation for tax purposes ($1,000) and straight-line depreciation for financial reporting purposes ($200). During 2014, Tongass accrued warranty expenses of $900 and paid cash to honor warranties of $500 . Tongass's taxable income for 2014 would be
a. $200. b. $1,000. c. $1,800. d. $2,600.